June WASDE: A few surprises from USDA

Corn and soy complex Mostly unchanged for new crop Export demand still lower for old crop Wheat Spring wheat off to a good start! USDA surprises with sizeable increase to global wheat production Sugar Slightly more bullish outlook for old and new crops 2022/23 stocks-to-use down to 13.1% on lower imports from Mexico Will Mexico come up short, or will they have that sugar available? Should be an interesting July WASDE! 2023/24 cane production lowered 87,000 STRV, with Texas down 56,000 STRV, pulling STU to 10.6% Don’t forget to register for our upcoming webinar! Risk Management webinar with Shawn Bingham Next Wednesday, June 14, 11 am PT / 2 pm ET Check your inbox for your invite or you can also register here Host: Michael Caughlan, President & CEOExpert: Eric Thornton, Commodity SpecialistExpert: Kevin Combs, Vice President – Global Sweeteners Specialist